REFUSING TO BE JILTED: EB Acquisition Ltd. has written to the management of Elder-Beerman Stores Corp. decrying the department store’s decision to negotiate exclusively with a single suitor and urging a “full and fair” auction of the company. The investor group said it is interested in making an all-cash offer for the company, even at a premium to the current stock price and, if successful in its bid to acquire the retailer, intends to keep the firm’s headquarters in Dayton, Ohio, “maintain its employee base and expand in various areas in the United States.” Elder-Beerman stock closed unchanged at $4.70 in Nasdaq trading Wednesday but is up $1.36, or 40.7 percent, since it revealed last Thursday that it was negotiating with a single party about a sale. The letter from EB Acquisition was signed by Daniel Summers as managing member of the firm.

THE GRADUATES: Anna Wintour, editor in chief of Vogue, will give the commencement address to the class of 2003 at the Fashion Institute of Technology on Friday, while Calvin Klein will receive an honorary degree, the college said. Klein is a 1963 graduate of FIT. About 2,600 students will receive their degrees at the 10 a.m. ceremony at Radio City Music Hall, which will also include an address from Sen. Charles Schumer (D., N.Y.).

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus